DraftKings (NASDAQ:DKNG – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02), Briefing.com reports. DraftKings had a negative net margin of 21.88% and a negative return on equity of 87.24%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned ($0.87) earnings per share. DraftKings’s revenue for the quarter was up 52.7% on a year-over-year basis.
DraftKings Stock Down 2.8 %
Shares of DraftKings stock traded down $1.21 on Friday, reaching $41.82. 27,173,021 shares of the company were exchanged, compared to its average volume of 11,728,833. DraftKings has a one year low of $21.07 and a one year high of $49.57. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of -23.79 and a beta of 1.87. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average of $43.57 and a 200 day moving average of $38.70.
Insider Transactions at DraftKings
In other news, insider Jason Robins sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total transaction of $8,178,000.00. Following the sale, the insider now owns 3,195,812 shares in the company, valued at approximately $130,676,752.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jason Robins sold 200,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.89, for a total value of $8,178,000.00. Following the sale, the insider now owns 3,195,812 shares in the company, valued at approximately $130,676,752.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R Stanton Dodge sold 686,101 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $43.06, for a total value of $29,543,509.06. Following the completion of the transaction, the insider now directly owns 200,239 shares in the company, valued at $8,622,291.34. The disclosure for this sale can be found here. Insiders have sold a total of 1,086,101 shares of company stock worth $45,903,509 in the last 90 days. Corporate insiders own 51.19% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Report on DKNG
About DraftKings
DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.
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